Pharma Stocks Outlook for the week – 22 to 26.02.2016
( www.rupeedesk.in )
Stocks
of pharmaceutical companies are seen trading with a positive bias
next
week, as the broader market is likely to be firm in the run up to the
Union
Budget for 2016-17 (Apr-Mar), to be presented on Feb 29.
Though
there were some disappointments, earnings of pharma companies
for
Oct-Dec have been better than expected, which has improved
investors
sentiment. There were more ups than downs, in its review on
Q3
Earnings performance of pharma companies.
Weakening
of the rupee against the dollar is also seen supporting pharma
stocks,
as exports form a major portion of sales of most companies.
Pharma
stocks have been under pressure over last three months due to
regulatory
issues and overall weakness in global equity markets. Hence,
bargain hunting is expected in the coming days.